Bitcoin: Bitcoin: Bear Trap - Another Impulse Coming
Current Situation: Bitcoin -1.39% did exactly the move I was expecting. There is a chance we'll drop a little more before we go up. If not then the smaller ABC correction is already over.
Prediction of others: The expectations of others have remained the same. Everyone is currently expecting either doom or moon.
My last prediction: At my last idea, I expected an ABC correction, which also occurred. Of course, I did not give any targets, as I said that for the moment we can not know what the correction looks like. Only at the end is it possible to identify the correct pattern, otherwise trading would be far too easy.
Last idea:
My current prediction: After we have (almost) finished the correction I expect another impulse upwards. This impulse should go up to my fibonacci level, which is about @$8,000, $7,978 to be exact. Of course there is also the chance that we will turn back before or after. You never know. When trading, you should be open to all scenarios.
Final word: Since there were some who asked me, I wanted to say that you can ignore the final crash charts for now. There are currently so many people waiting for a crash. However, I think these people need to be bullish before. So I expect some bull and bear traps before it really crashes. In the future I will try not to do so many long term charts any more. I know roughly how it will look in the end, but you can not know how long the correction will take until the crash comes. So it's very likely that they are wrong. But the move down will come. The only thing is you can not say how long and how far yet. This is still too far in the future (estimated 2-3 months).
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Short update: Also check out my ideas for Verge and Bitcoin Cash. Good luck.
Bitcoin Cash:
Verge:
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Short update: Just wanted to justify why I wrote at all ideas that we could see a drop again. I expect the upmove in any case, only the problem is that I can not correctly identify patterns with low volume and at low time frame. Most likely it will happen the scenario you see on the chart below. Breaking the 'trend line' would cause everyone to think we would drop a lot. However, this would only end the correction and give us another impulse upwards: In summary, it would be a bear trap.
Possible scenario:
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Short update: The longs have risen dramatically in the last few days. Therefore, it is likely that the correction could take up to 1 week longer. This does not change my opinion. I'm still bullish short term and expect an upmove to about $8 000. In the next few days I will also try to publish an idea for Tron. Tron has a potential of over 100% increase. I've already bought some even if I could imagine a small drop.
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Short update: And the first 600 BTC longs were already closed after the drop. My opinion remains. The correction ends when many of the longs close. That's why I often advise you to do the opposite of the crowd.
@sasman14, why dont you post some ideas on your TV profile then and stop complaining about the others work? What @e55 is doing here is excellent work and time dedication to share ideas with a community. If you dont agree on it or take bad decisions dependant on them, its your problem. Move on and check other authors posts if you dont agree with this one.
kobaltttt
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@VenturaCapitalista, +100 Move along now... sasman14 doesn't take the effort to formulate anything useful which is ironic in a way as he besides him seemingly being upset about having bough some BTC pff plz.. i just hold (and sell and buy and sell) you can always do what you want and be more active and trade with it and it's only a loss if you sell at a loss ;)
Next time a lucid explanation or counter argument with your own superior TA skills and knowledge would be a contribution from which we all learn, that's the idea..
@ sasman14 to put it into perspective I'm not attacking you but appreciate anyone who takes the time and effort to publish his ideas on tradingview. If you read your comments objectively the level of feedback, is similar to wrong, bad bah, boo I bought before from listening to you but never again..and at worst they convey the author is trying to outsmart the masses (again) into buying while he is shorting..which you cannot prove other than by your own results.. (even then his TA might have been good for a day or two or you held on to it, like i did have boasted before even if BTC becomes the next Turkish Lire i'd have to compound interest and get 100% ROI in a week ten times more often...(doable of December was stretched into a year...;) and it is, well..in general it is regarded as bad manners..
If I knew Januarys dip would be that big I would have sold some i bought at a profit but before that I have seen brief dips to buy in and the armageddon like hysteria in chat when BTC dipped 2k but was still higher than the week before ;) i was busy buying dips and frankly couldn't be bothered..yet..LOL Now I have funds ready to short and with leverage etc.. but I wasn't doing that in December everything was golden...:D
I think the momentum is picking up and the relentless bear assault and then period of comatose FUD has come to an end.. After the far less entertaining big action in liquidating 50-100x leveraged trades and stop loss hunting as there were times where shorting seemed like suicide as it can't possibly go lower... right, well maybe and vice versa the Bull runs at times seemed promising, but often didn't have the (grab the popcorn level and enjoy BTC mooning) effect of previous runs while you'd expect a breakout of supernova proportions after some of the lows.And the game continued, sure get it super alluring, but don't break or the damn thing. :)
My gut says his TA is correct (and my gut is always right, solid argument. boom! XD) and we will see decent highs again soon and popcorn and champagne..! Thanks for the TA @e55
IRCSAS
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@kobaltttt, I do not understand what you mean by this long novel!
Good luck!
IRCSAS
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@kobaltttt, please explain What fuel is there to move up?
IRCSAS
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@VenturaCapitalista, I do not agree 100% with anyone for any time, and I am not against the opposite 100%
In the past, I even followed his work and confirmed it, but ...
Humans make a mistake!
Thinking white or black is wrong
IRCSAS
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@VenturaCapitalista, how are you?!!!
IRCSAS
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I'm 3 weeks old saying that Bitcoin does not have the power to pass 8k, but they all blame me!
I now say that until Bitcoin hits the channel of 6k or 5k, it will not see the constant growth.